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Wednesday 24 April 2019


Dutch funds invests further in Norwegian hydropower

Written by Sunniva Kolostyak

Dutch pension manager APG increases its commitment in Småkraft with €300m as the hydropower operator plans on doubling its capacity by 2022.

APG, which on behalf of ABP and other pension fund clients owns the majority of Småkraft, has expanded its commitment as it saw the Norwegian company as an opportunity to continue supporting an increase of renewables in the European energy mix, now investing €300m to fund the development.

The growth in annual generating capacity from 1 TWh to 2 TWh will come from building new run-of-river power plant and acquiring existing plants. The company is also in talks with advisers and investors about launching a Euro-denominated Green Bond later this year.

Småkraft managing director Halle Aslaksen said: “Our nimble operating platform, transparent due diligence and track-record in concluding transactions give us a differentiating edge in the market.”

Småkraft is Europe’s largest operator of small hydropower plants, operating over 100 power plants across Norway, producing 1 TWh. Småkraft is owned by European pension funds and insurance companies through investment vehicles managed by Aquila Capital.

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